Boulder County, Colo.—Stratford Partners Real Estate, a Del Mar, Calif.-based private investment company, recently acquired an award-winning multifamily community in Lafayette, Colo., for $36.1 million.
The community, called Prana Apartment Homes, which is a Class A property, includes 254 units. The property is located near the Exempla Good Samaritan Medical Center, as well as employment centers and downtown Boulder.
“Prana is a top-tier apartment community for its construction quality, location and amenities, which include a resort-style, junior Olympic pool with barbecue and entertaining areas, a dog wash, fitness centers and a game room,” Andy Crews, managing principal at Stratford Partners, tells MHN.
The Apartment Association of Metro Denver also recently voted Prana the “Most Outstanding” community in the Denver Metro Area.
According to the Apartment Association of Metro Denver, the Denver area multifamily rate was 4.3 percent on September 30, the lowest rate in more than 10 years.
“Our acquisition of Prana aligns well with our strategy to build our multifamily property portfolio by $350 million throughout the Western states over the next two years,” Crews says.